CHICAGO, Jan. 23, 2025 /PRNewswire/ -- Doctors of Physical Therapy ("DPT"), a provider of outpatient physical therapy and onsite industrial and injury prevention services, is pleased to announce a combination with Empower Physical Therapy ("Empower"), a provider of physical therapy services including pre- and post-surgical, chronic injury, and work injury rehabilitation.
With Empower's wide range of clinical specialties, more than 150 clinicians, and an existing presence in four states, the combination allows the Midwest based company to rapidly expand its network of family-oriented, autonomous clinical experts to deliver better, faster outcomes for patients across the country. The combined entity will have nearly 160 locations across 11 states, and DPT's extensive workers' compensation network and self-insured contracts will immediately add value to the Empower clinics.
DPT and Empower have a people-first culture that serves patients, communities and the physical therapy profession.
"This partnership is an important one for DPT, as we continue to identify strategic growth opportunities to meet the growing demand for outpatient and industrial physical therapy services," said Aaron Kraai, founder and CEO of DPT. "Empower has a tremendous reputation as an invaluable resource for their patients in communities across the Southwest, and we look forward to assisting and supporting these existing and new patients on their recovery journey."
Founded in 2005, DPT began as a family-run clinic that has steadily grown to over 100 locations with 400 practitioners across 24 states. The company's physical therapy owned and operated practice emphasizes evidence-based treatments and top-notch clinicians that will deliver physical therapy services.
DPT and Empower have established a reputation as a people-first culture that serves the company's patients, communities and the physical therapy profession. The combined company will continue to be supported for future growth and expansion by SV Health Investors and Sheridan Capital Partners.
"When we founded Empower in 2018, we sought to exceed patient expectations by delivering clinical excellence and a world class experience to deliver meaningful outcomes to achieve a higher level of functional living," said Steve DiPaola, outgoing CEO of Empower. "DPT is a strong, like-minded private practice that has an outstanding reputation for providing exceptional care in their communities. These shared values, therapist- and patient-centric culture, and dedication to excellence in patient care makes this partnership an incredible next chapter for the Empower team under the DPT leadership"
The DPT partnership with Empower closed as of December 2024. Founder and CEO, Aaron Kraai will lead the combined company and expects significant synergies and growth. Legal counsel was provided by Morgan Lewis for DPT and by McGuireWoods for Empower. Piper Sandler advised on this transaction. For more information, please visit www.doctorsofphysicaltherapy.com.
About Doctors of Physical Therapy
For nearly 20 years, Doctors of Physical Therapy ("DPT") has provided outpatient and industrial physical therapy and injury prevention services to those in need. The Chicago-based therapist-owned-and-operated company includes over 100 locations and 40 industrial sites that span across 24 states, with more than 400 autonomous clinical experts delivering better, faster outcomes for patients. Founded by Aaron Kraai, PT, DPT, MBA, what began as a small, family-run clinic has scaled rapidly in recent years to meet a growing demand for evidenced-based treatments. In 2022, DPT was included in Inc. Magazine's list of the Top 5000 Fastest Growing Companies. For more information on Doctors of Physical Therapy, or to book an appointment, please visit www.DoctorsofPhysicalTherapy.com.
About SV Health Investors
SV Health Investors is a private equity firm dedicated to investments in the healthcare and life sciences sector. Founded in 1993 with offices in Boston and London, SV manages approximately $2.0 billion across multiple investment strategies. SV's dedicated healthcare Growth-Buyout strategy seeks to partner with experienced management teams to accelerate the success of innovative healthcare companies across healthcare services, outsourced medtech and pharma services, medical products, and healthcare IT. SV combines decades of healthcare transaction and operating experience to drive long-term value creation and realize the triple aim of healthcare – higher quality care, accessible to more patients, at a lower cost. For more information, please visit www.svhealthinvestors.com/.
About Sheridan Capital Partners
Sheridan Capital Partners is a Chicago-based healthcare private equity firm that focuses on lower middle market buyouts and growth equity in the U.S. and Canada. Sheridan partners with companies in the verticals of providers and provider services, healthcare IT and outsourced services, and consumer health and medical products, bringing strategic resources aimed at accelerating growth and building enduring value. For more information, please visit www.sheridancp.com/.
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